Follow @PoliticsIE
 
 
 
Page 1 of 13 1234511 ... LastLast
Results 1 to 10 of 121

Thread: Northern Ireland's fiscal deficit

  1. #1
    Politics.ie Member DeGaulle 2.0's Avatar
    Join Date
    Oct 2008
    Location
    Baile Átha Cliath
    Posts
    2,001
    Mentioned
    0 Post(s)

    Default Northern Ireland's fiscal deficit

    I attempted to calculate the annual subsidy received by NI from Britain every year (here) but the figures are actually available from the NI Assembly website. I have started a new thread rather than bury the information in one of the border poll threads.

    The link is here: http://www.niassembly.gov.uk/Documen...nnel/19712.pdf

    The figures show that in 2010/11 the NI Fiscal Deficit was 10.5 billion pounds (approx 12.5 billion euro). In population terms, this would be the equivalent to a 32 billion deficit in the South.

    Other useful related links:-
    http://www.hm-treasury.gov.uk/d/pesa_complete_2012.pdf
    Tax Revenue Sources in UK - Economics Blog
    BBC News - Northern Ireland receives most public money per head in UK
    http://www.isitfair.co.uk/reports/pu...licfinance.pdf (from 2006/7 but with a detailed analysis)
    http://pwc.blogs.com/files/nieo-august-2012.pdf
    NISRA - Economic Statistics

    The deficit has increased rapidly in the last few years, from 6.3 billion in 2006/7 to 10.5 billion in 2010/11.

    Unemployment in NI is just under 8% but this is somewhat misleading as there is a high rate of economic inactivity among 16-64 year-olds compared to other UK areas.

    How should this deficit be addressed?
    Vive le Québec libre ! Ag beathú na dtochardán ón mbliain 2007.

  2. #2
    Castle Ray
    Guest

    Default

    Answer: a united ireland and an irish language act.

    Works for every other problem including adverse weather conditions apparently.

  3. #3
    Politics.ie Member InsideImDancing's Avatar
    Join Date
    Apr 2011
    Location
    Everywhere!
    Posts
    21,877
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by DeGaulle 2.0 View Post
    I attempted to calculate the annual subsidy received by NI from Britain every year (here) but the figures are actually available from the NI Assembly website. I have started a new thread rather than bury the information in one of the border poll threads.

    The link is here: http://www.niassembly.gov.uk/Documen...nnel/19712.pdf

    The figures show that in 2010/11 the NI Fiscal Deficit was 10.5 billion pounds (approx 12.5 billion euro). In population terms, this would be the equivalent to a 32 billion deficit in the South.

    Other useful related links:-
    http://www.hm-treasury.gov.uk/d/pesa_complete_2012.pdf
    Tax Revenue Sources in UK - Economics Blog
    BBC News - Northern Ireland receives most public money per head in UK
    http://www.isitfair.co.uk/reports/pu...licfinance.pdf (from 2006/7 but with a detailed analysis)
    http://pwc.blogs.com/files/nieo-august-2012.pdf
    NISRA - Economic Statistics

    The deficit has increased rapidly in the last few years, from 6.3 billion in 2006/7 to 10.5 billion in 2010/11.

    Unemployment in NI is just under 8% but this is somewhat misleading as there is a high rate of economic inactivity among 16-64 year-olds compared to other UK areas.

    How should this deficit be addressed?
    Gerry Adams recently said on a BBC program that according to figures that they got from NI's department of finance, the figure is closer to 7 billion. He said that the British put in around 17 billion, and they take out up to 12 billion. There is a lot of anomalies here my friend that need to be sorted out. I have been arguing for a while for the Brits to release all figures that are unique to NI. They release a lot of UK-wide figures and I'm not even sure if they release accurate, NI specific, emigration figures.

    How to deal with it?

    An Ireland economy working together as one instead of competing against each other.

    Merging of infrastructure, health, police, judiciary etc etc.

    Reintegration of ROI peripheral areas with their natural centres, such as Belfast and Derry.

    Concentrate on two economic centres (Dublin and Belfast) and avoid the disaster of the London centric British economy.

    Lower the corporation tax and flying duties immediately in the north.

    Stop money leaving the country in border areas through roaming charges etc.

    A real-life economy in the north where the people have real power and responsibility.

    A transition period, backed by the EU including the British, and others including the US, in order for the people to negotiate, to get the best stuff from both economies.

    Far from easy, but good chit rarely is, and trust me the superior Ireland is good chit in comparison to the two current states. Look at rugby and Football for a clear example.
    Police ombudsman Nula O'loan - We found collusion on a massive scale, murders, intimidation, directing terrorism, attempted murder, drug smuggling, the list of crimes is endless..

  4. #4
    Politics.ie Member physicist's Avatar
    Join Date
    Mar 2010
    Location
    Ireland
    Posts
    6,267
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by Castle Ray View Post
    Answer: a united ireland and an irish language act.

    Works for every other problem including adverse weather conditions apparently.
    Níorbh fhéidir Sharia Dlí an fiach ollmhór a deireadh? Níor mhaith liom é a úsáid.

  5. #5
    Politics.ie Member InsideImDancing's Avatar
    Join Date
    Apr 2011
    Location
    Everywhere!
    Posts
    21,877
    Mentioned
    0 Post(s)

    Default

    Are you a member of FG OP?
    Police ombudsman Nula O'loan - We found collusion on a massive scale, murders, intimidation, directing terrorism, attempted murder, drug smuggling, the list of crimes is endless..

  6. #6
    Castle Ray
    Guest

    Default

    Quote Originally Posted by physicist View Post
    Níorbh fhéidir Sharia Dlí an fiach ollmhór a deireadh? Níor mhaith liom é a úsáid.
    Anythings possible in the minds of the deluded.

  7. #7
    Politics.ie Member
    Join Date
    Mar 2011
    Posts
    440
    Mentioned
    0 Post(s)

    Default

    On the point of removing duplication in the provision of public services in a united Ireland, money saved would need to be reinvested in the economy to increase private sector employment, particularly as there would be job losses whilst cutting the level of bureaucracy.

    The Northern economy is already heavily dependent on the public sector.

    Perhaps additional incentives should be made to potential investors by lowering corporation tax below the level of the rest of Ireland in the likes of the North-west and Belfast to initially address this private sector hole.

  8. #8
    Politics.ie Member eskrimador's Avatar
    Join Date
    Sep 2009
    Posts
    11,977
    Mentioned
    0 Post(s)

    Default

    We, the people of Ulster demand that the people of England give us money they cannot afford, as cancer services are cut, as much needed social services are cut, as soldiers get their p45s..... That they give us their money and w do so because.......well, were Ulster
    Ya wouldn't want to have seen t happening but if Eammon Mc Cann and Bernie Devlin conceived a child, ideologically, it would be me

  9. #9
    Politics.ie Member
    Join Date
    Mar 2011
    Posts
    440
    Mentioned
    0 Post(s)

    Default

    The northern economy seriously needs to be addressed. Interesting that even Mervyn King, ougoing Governor of the Bank of England is calling for political leadership a Stormont to sort economic issues.

    There are economic benefits of being in the UK, yet Northern Ireland has not made the most of them.

    Ironic how unionism argued that Belfast would lose its economic strength with a Dublin government, yet with changes in industry and employment over the decades since partition, Belfast has not done as well as it should within the UK, especially when compared to the South East and London where our economic policy is set.

  10. #10
    Politics.ie Member DeGaulle 2.0's Avatar
    Join Date
    Oct 2008
    Location
    Baile Átha Cliath
    Posts
    2,001
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by InsideImDancing View Post
    Gerry Adams recently said on a BBC program that according to figures that they got from NI's department of finance, the figure is closer to 7 billion. He said that the British put in around 17 billion, and they take out up to 12 billion. There is a lot of anomalies here my friend that need to be sorted out. I have been arguing for a while for the Brits to release all figures that are unique to NI. They release a lot of UK-wide figures and I'm not even sure if they release accurate, NI specific, emigration figures.
    The 10.5 billion comes from the NI dept of finance - see the link. The identifiable spend is well over 19 billion, not 17 billion, and that excludes items that are not specific to one region such as defence, foreign aid, etc. (And yes Ireland won't be sending an army to Afghanistan but there will still be a requirement for a larger army).
    How to deal with it?

    An Ireland economy working together as one instead of competing against each other.
    That doesn't make sense - companiees have to compete whether there is a border or not.
    Merging of infrastructure, health, police, judiciary etc etc.
    Like the Croke Park deal - how much has that saved per year?
    Reintegration of ROI peripheral areas with their natural centres, such as Belfast and Derry.
    Really, Donegal is the only major beneficiary here.
    Concentrate on two economic centres (Dublin and Belfast) and avoid the disaster of the London centric British economy.
    Yes it would be great to have 2 cities of similar size as friendly rivals and there undoubtedly some synergies but there it still doesn't address the real issue. 10.5 billion.
    Lower the corporation tax and flying duties immediately in the north.
    Lowering corporation tax will not help to close the deficit
    Stop money leaving the country in border areas through roaming charges etc.
    Trivial
    A real-life economy in the north where the people have real power and responsibility.
    That doesn't actually mean anything
    A transition period, backed by the EU including the British, and others including the US, in order for the people to negotiate, to get the best stuff from both economies.
    Undoubtedly there will be assistance (a bit like our bailout) but there will probably be severe cutbacks required.
    Far from easy, but good chit rarely is, and trust me the superior Ireland is good chit in comparison to the two current states. Look at rugby and Football for a clear example.
    "Trust me" isn't an argument.
    Pretending the subsidy isn't there isn't an answer.

    Looking at the figures, possibly the NI economy will adjust partially in time with the public service shrinking as people retire - assuming that they were padded during the Troubles. This might make the problem much smaller by the time there is a nationalist majority. I think though that public spending in the North may be much higher than in the South and that is going to be a really difficult problem to address, even with assistance from a transition program. How much will such a transition program require?
    Vive le Québec libre ! Ag beathú na dtochardán ón mbliain 2007.

Page 1 of 13 1234511 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •